Federal Excise Taxes
On February 4, 2009, President Obama signed into law a $32.8 billion expansion of the State Children’s Health Insurance Program (SCHIP) funded by significant increases in the Federal Excise Taxes (FET) on tobacco. This tax increase was a top priority of the new Administration and Congress, and was signed into law by President Obama during his first three weeks in office.
The chart below shows how taxes went up as a result of the Federal Government’s recent actions.
These federal taxes are in addition to the tobacco taxes imposed at the state and in many cases, at the local level.
Click here to find out how your U.S Congressman and Senators voted.